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VC money overflowing in internet and mobile sectors..
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Just read these numbers from an article and it seems like VC money is overflowing.. In 2006, venture capitalists (VCs) struck 30 deals worth a total of $200 million most of which went into Internet and mobile phones that are expected to boom in India. In comparison, VCs invested a total of only $36 million in seven deals in 2005. The overflow of money has continued into 2007 with five deals worth $13 million already sealed in the first four months in the mobile and Internet sector alone, according to a joint study by Venture Intelligence and US-India Venture Capital Association.
The most recent startups to join the WE ARE FUNDED band wagon are apnaloan.com which got 2.2 million from sequoia capital recently. This money helped theme acquire back stake from previous investors as well.
| Online Ad network Komli.com has also joined the banwagon and has received an undisclosed nvestment from two leading venture capital firms Draper Fisher Jurvetson and Helion Venture Partners. |
Its no surprise to see so much of money overflowing as the potential s immense in internet and ofcourse mobile. But the next two three years would actually decide the fate of many startups vying for Vc money as though money is good it can be bad too especially when in the wrong hands!
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